0
If you call in a voluntary repossession do you have to keep paying on the car until its picked up?
Wiki User
∙ 18y ago
If it drives, take it to the finance company and hand them the keys.
Wiki User
∙ 18y ago
Add your answer:
Earn +20 pts
If lender listed car as a repossession within last 24 hours is it too late to avoid having it on credit report if it has not been picked up yet?
First of all, a lender does not report a vehicle as a repossession until they actually have possession of the vehicle. Then immediately via computer the code is entered and authorities notified. The credit reporting company may be a little slow getting the repo on your report however, but any new lender is going to check your report before giving you a new loan. After a vehicle is repo'd you usually have a few days prior to sale of that vehicle, to get the vehicle back if you pay the account current plus any repo expenses if it was a voluntary repo. If it was not voluntary, and the lender had to take the vehicle, they probably will not redeem the vehicle back to you, but it never hurts to ask.
I am paying child support payments until she's 22 when do I stop paying do I stop on the 22nd or do I continue paying until the 23rdbirthday?
on her birthday
How long after you let the lender know of a voluntary repo and the car has no plates and insurance should it be picked up?
Gpysy, they have about a year to come get it. LOL Most wait until you are 90 days late to give you a chance to come up with MONEY and keep the car.
Is it crazy to consider voluntary repossession of a 10-year-old vehicle that needs a thousand dollars worth of repairs and you still owe about five thousand on the loan?
No crazier than owing that much on a car that old. IF you do the 1k in repairs, will it last until you get it paid off? What is the loan value of the car in decent shape?
Can a co-signer of a car transfer all debt to the main signer of a car?
No. The co-signer will be responsible for paying the loan until it is paid off.No. The co-signer will be responsible for paying the loan until it is paid off.No. The co-signer will be responsible for paying the loan until it is paid off.No. The co-signer will be responsible for paying the loan until it is paid off.
Can you return a new car to the dealer because you cannot afford it?
No, you cannot just return it to the dealer. The dealer has nothing to do with this unless the dealer is also the lender. You must return it to the entity who loaned you the money to buy the car in the first place. It is their car until you pay for it. This is called a voluntary repossession. You will be required to pay the deficiency. That is the difference in what you owe on the vehicle and what they sell it for at auction or private sale. Your credit will also be ruined for 7 years. You will save repossession fees by turning it in voluntarily.
Can repossession companies find out where your car is registered?
Of course. They have the VIN and are the legal owners until you pay it off.
What do they do with the cars after they get towed?
store it until it gets picked up.
Does a personal water craft repossession work the same as a vehicle repossession?
Yes, until the note is completely paid it still belongs to someone else and can be repossessed. If the transport trailer maybe also if it's on the same note.
Can a lender garnish your wages after a voluntary repossession in Georgia?
Yes, if the lender wins a lawsuit judgment they can execute the judgment as a wage garnishment. Georgia follows federal garnishment guidelines of a maximum of 25% of disposable income with the first $154.50 (weekly based) being exempt from garnishment action. A valid garnishment is generally imposed until the debt is paid.
Can a repossession be put on your credit if you still have the car and can you still get the car sticker and tags?
If your not paying on it yes. Just because you have the car doesnt actually mean you own it until you pay it off in full. The place you got the car loan from does until then. You will waste your money by getting the tags and sticker because if the repo order has been put on your credit, they will be coming to get it, just a matter of time.
What happens when debtor files bankruptcy Chapter 7 and lists the car as a voluntary repo but it is not picked up after a year?
It belongs to the lender and YOU get to store until they come pick it up. yes...but dont forget to let them know you will be charging them a $60 a day storage fee, just like you would get charged.
